Electric Car Sales Drop In UK

Following the lead of automobiles with traditional engines, electric car sales have dropped in the UK. From June through September, a mere 308 electric vehicles were purchased through the governmental grant program. The decline in electric vehicle sales is just one piece of bad news for car finance providers, who are seeing business decline on all fronts.

The government grant program for electric cars went into effect in January. Buyers of an electric vehicle are entitled to a £5,000 subsidy. It seems that even this monetary incentive is not enough to make many drivers want to bid farewell to an internal combustion engine vehicle. There were 465 new electric automobiles registered during first quarter 2011. During the second quarter, the figure dropped over 50 percent to 215.

The grant scheme features £43 billion in funding, enough money to subsidize 8,600 electric cars. To date, less than £4 million has been used. Experts doubt that even one-quarter of the funds will be utilized by the time the program ends. Things are similar throughout Europe, even in countries subsidizing as much as £18,000. Throughout the continent, electric car sales are far below predicted figures.

Belgium is one particularly good example, offering a £9,496 government subsidy for electric cars. Between January and July, only 85 electric vehicles were sold there. Any Belgian car finance company that hung its hopes on electric cars is probably considering changing its business model. It does not seem that residents will be taking out many car loans for automobiles powered by electric engines.

Automakers hailed the electric car as the vehicle of the future. However, short driving ranges and limited battery life have negated the many benefits of driving an electric car. The desire to go green and put more green in the pocket at this time may not be as strong as these car manufacturers anticipated.

Using Solar Panels To Increase Electric Vehicle Range Per Pound

Television comedian Robert Llewellyn is a fan of electric automobiles. He owns the new Nissan LEAF electric car and is showing the rest of us how to reduce car ownership costs while achieving zero carbon emissions. It seems this actor is not all fun and games, as his character Kryten on the British comedy series Red Dwarf would lead us to believe.

Mr. Llewellyn had solar panels installed at his home three months ago by British Gas. Since then, he has driven his electric car an impressive 1,000 miles for just slightly more than five pounds. For the past three months, he charged his LEAF with only solar panels 85 percent of the time. Even the cloudy weather in Britain did not hamper his efforts.

Since the solar panels have been installed, Mr. Llewellyn has covered close to 2,700 miles in his LEAF. Had he owned a fuel-driven vehicle, his motoring costs would have been close to three times what he spent on solar recharges. On average, it costs £150 to travel 1,000 miles in a fuel-driven car. Charging an electric car from mains electricity costs just £37.10, in comparison.

An even more impressive difference is the fact that it costs only £5.38 to use solar energy to recharge an electric vehicle. After reviewing these figures, many car buyers may begin looking for inexpensive car loans and bank financing for solar panel installation on their home. Electric cars are the future of vehicle technology, from both cost and environmental savings perspectives.

Even consumers with a low credit score can find car loans for electric cars. Bad credit car finance is usually more expensive than loans for good credit borrowers. However, that additional cost is bearable when drivers are saving so much on operating expenses by owning an electric car and installing home solar panels.

Rolls-Royce Enters The Electric Concept Vehicle Market

Forget the idea that electric cars are tiny little vehicles designed for people willing to sacrifice comfort to green the environment. Rolls-Royce recently revealed that it is experimenting with electric cars. At the Frankfurt auto show, its parent company BMW AG unveiled the Rolls-Royce 102EX electric concept car.

The 102EX features an electric power train engine and a design based on the well-recognized Phantom model. It seems even those who require luxury may someday be able to drive an electric vehicle. Norbert Riethofer, chairman of BMW, agreed when he spoke at the auto show in Frankfurt on Tuesday. He stated that even luxury brands are including “zero-emission motoring” in their future plans.

At the same show, BMW presented the smaller and more conservative, though very appealing, electric i3. High-tech plastic reinforced by carbon is used in construction, conserving weight. BMW also had a hybrid sports car on display, the i8. Both vehicles should hit the market in 2013 as the auto industry hopes more efficient cars will help it recover from difficult financial times.

Whether consumers desire an electric or hybrid BMW, many of them will need car loans. Since the Rolls 102EX is currently in concept form only, all the money in the world cannot buy it. Only the wealthiest consumers will be able to afford any marketed electric Rolls-Royce without car finance. Those who only qualify for bad credit car finance can basically forget about ever owning one.

Anyone refusing to give up the dream should take credit improvement steps now. It can take six to twelve months to get credit back in good standing. By that time, the new BMWs will have gone on sale and the consumer can head to the show room for a test drive, knowing that the improved credit history will increase the chances of financing approval.

Electric Scooter Being Developed By BMW

According to AA, UK motorists are choosing more fuel-efficient vehicles, driving their cars less, and reducing automobile-related expenses in any other way possible. Some are even choosing motorbikes or bicycles over cars in an attempt to save gas.

Before they apply for motorbike or car loans, they should learn more about what BMW has in the works.

The high-end automaker is developing an electric scooter. Right now, the project is in the concept stage but the company is taking it seriously. It is highly likely that we will see an electric BMW scooter on UK roadways in the coming years.

For many drivers, this would be a welcome change from the gas-guzzling, polluting automobiles they drive today.

This all-electric scooter is aptly named the BMW E-Scooter. There are already electric scooters on the road but these have subpar performance. BMW says its scooter will have a range of close to 100 kilometers and a maximum speed that exceeds 60 kilometers per hour.

The German Federal Ministry of Transport, Building and Urban Development is funding this project.

Hills and passing should be no problem for the BMW E-Scooter, says the German automaker. Vehicle battery recharging can be done through a residential power outlet. Unlike a traditional scooter, the E-Scooter does not contain a main frame.

The function is performed by the aluminum battery casing. The casing also houses an electronic system for monitoring the battery cell. Drivers can quickly assess the status of the battery and give it a recharge.

With vehicles like this one, car finance may take a back seat to scooter financing. Electric vehicles are good for consumers because they eliminate fuel costs and use less expensive electricity.

They are good for the environment because they do not emit carbon dioxide that is harmful to the atmosphere. Though scooters may not be suitable for highway driving, they are ideal for getting around town.

Electric Car Batteries Undergoing Major Design Changes

In the U.S., MIT researchers are taking a revolutionary approach to car battery design. The result could be an inexpensive and lightweight battery for an electric car. A cheaper battery should equate to a less expensive vehicle, which means lower priced car loans for many UK car buyers.

The technology may even make it quicker and easier to recharge an electric car than to fill a conventional vehicle gas tank.

The innovative design of the battery is comprised of a semi-solid flow cell. Solid particles are suspended in a liquid electrolyte carrier and are pumped through the vehicle system. These solid particles are actually the active parts of the battery, the cathodes and anodes. Students and professors at MIT conducted the study and have already published their findings in the Journal of Advanced Energy Materials.

Using the new design, electric car manufacturers can cut battery system size and production costs in half. The researchers believe that this may make electric cars price-competitive with conventional autos. Another advantage is that the battery can be refueled by draining the slurry and replacing it with fresh liquid that is fully charged.

The tanks could be swapped, as an alternative solution.

Whether they use car finance or personal contract purchase pcp, car buyers should embrace this development. It means they can be environmentally conscious by driving an electric car, without having to pay more money for it. If the research comes to fruition, this could forever change the auto industry.

Electric cars are becoming more popular because they eliminate the need for expensive gasoline when running a vehicle. With a lighter battery, electric autos should be more streamlined. A lower price tag and faster charge time may allow these cars to find a wider audience in the UK and throughout the world, enabling electric vehicles to become a new standard.

Kilkenny Company Makes Major Progress In Electric Car Movement

Rising fuel prices are causing drivers everywhere to take steps to reduce motoring costs. Electric cars are becoming more popular due to their reduced fuel consumption and related eco-friendly benefits. For these vehicles to become commonplace, a charging network must be established.

A Kilkenny, Ireland-based business just made a huge step in that direction.

ESB e-cars recently awarded a contract to Gaeltec Utilities, Ltd. for the nationwide installation of home charging stations for electric cars. Gaeltec will not only be installing the technology for others to drive these vehicles, it will be using them itself.

The energy and telecommunications company just added an electric car to its commercial fleet. The car was launched by Phil Hogan, Irish Minister for the Environment, Community, and Local Government.

Gaeltec will be responsible for installing up to 2,000 electric vehicle home charging stations in Ireland. Homeowners will be able to fully charge their electric cars overnight using their household electricity supply. ESB is responsible for the nationwide charging infrastructure rollout and will also create a network of fast charge and public charge stations throughout Ireland.

The Irish government established a policy that by 2020, ten percent of all vehicles on the road must be powered by electricity. This creates a huge demand for home charging stations for these cars. It was a major accomplishment for eight year-old Gaeltec to land this high-profile contract.

The company plans to install the charging points at a pace that matches electric car sales.

Companies like ESB and Gaeltec have their eye on a sustainable future. Consumers would be well-advised to follow their lead. Whether they purchase it with car finance or personal contract purchase pcp, Irish residents should consider adding an electric vehicle to the household.

Using bad credit auto finance, even those with poor credit may be able to secure an electric car.

Hertz To Offer Electric Bike Rentals

In the UK, motorists are taking drastic measures to reduce transportation costs. They are purchasing smaller cars or used vehicles and looking for the best car finance deals available. Hybrid and electric cars are becoming more popular as drivers attempt to reduce fuel expenses.

It seems the bike is also becoming more popular and car rental agency Hertz is taking advantage of this.

Accurate statistics are not available regarding the number of UK residents who have switched from driving cars to riding bikes. Hertz seems to think the figure is significant because it plans to offer electric bicycles as alternatives to conventional automobiles.

Ultra Motor will be the bike supplier, providing the A2B Hybrid and the Fast4Ward bikes.

Initially, these bikes will only be available at London-based Hertz agencies. Each one can reach a speed of approximately 15 miles per hour. Riding range is about 40 miles after which the occupant can manually pedal indefinitely.

Not only is this a fuel-efficient way to travel, it is much more environmentally friendly than a carbon-emitting automobile.

Though these rental bikes are intended only as temporary transportation, Hertz may be on to something. London streets are congested with vehicles that guzzle gas. Drivers may soon think about paying off their car loans, selling their autos, and purchasing a bike to get them around town.

The move would definitely help lower their transportation expenses.

Twelve bikes will initially be available at the Hertz Marble Arch location. For just £20 per day, tourists can explore London on these bikes. Before they begin their journey, they will receive a helmet, bike lock, training, and an AA Leisure Guide to London.

There are no plans to include a GPS device but that could change, as navigating the streets of London without being able to hold a map can be tricky.

European Electric Vehicle Conference Scheduled

To get a vehicle, many people must resort to car loans. For the average household in the UK, the installment payment for this loan represents a significant portion of the monthly budget. Fuel is another major cost of vehicle ownership.

As oil prices climb past $100 per barrel, car owners hold their breaths.

Financial relief may come from the electric vehicle industry. Electric cars seem to be a viable alternative to the carbon-emitting, gas-chugging road hogs we drive today. This new industry is currently characterized by many parties scrambling to participate and little planning, which is unfortunate.

Even manufacturers of carports are trying to cash in on electric cars, creating solar carports that recharge vehicle batteries overnight.

In a move to organize this sector, a European conference regarding electric automobiles has been planned. The European Electric Vehicle Congress will be held in Brussels on October 26. The European Association of Battery, Hybrid and Fuel Cell Electric Vehicles (AVERE) Secretary Frederic Vergels is organizing the event.

A main goal of this conference is to create a road map for the future of the electric vehicle sector. Industry stakeholder needs will be a topic of conversation as will the right of the public to receive affordable transportation that does not endanger its health.

Detailed discussion will also take place about how alternative technologies affect the environment.

One group that seems to be particularly welcoming of electric vehicles is comprised of North Eastern UK car buyers. Five percent of those surveyed stated they would consider purchasing an electric car, compared to just two percent in the rest of the country.

The large number of electric vehicle charging stations located in this geographic area may have something to do with the interest. Beginning in 2013, the electric Nissan LEAF will begin being manufactured in the North Eastern UK.

Record Broken By Peugeot Electric Car

In a move to save fuel costs and be environmentally friendly, UK car buyers are now taking out car loans to purchase electric vehicles. The electric car market is quickly evolving to keep pace with this demand and to incorporate new technology.

In just a few short years, electric vehicles have made some remarkable strides.

When electric cars were first released, they were considered slow and packed little power. Consumers purchased them only for use when driving around town. These days are ancient history, with current versions rivaling sports cars in terms of performance.

For example, the new Peugeot EX1 electric car just set a new record at the Nurburgring race track in Germany.

This vehicle had already broken an electric vehicle straight-line speed record but that was not enough. It now also holds the electric car lap record at the same course where it won its first title. The car held an 85 mph average speed and was able to complete a lap in only 9:01. As a comparison, the Porsche 911 GTS RS has a lap record of 7:18.

The EX1 was manufactured to celebrate the 200th anniversary of Peugeot. It features two electric engines, one for each axle, and has a 340 bhp combined power output. Consumers whose interest has been peaked will be waiting a while to use car finance or pay cash for an EX1.

The vehicle is currently only available as a concept model.

When purchasing an electric car, UK consumers are focusing on the battery replacement cost, driving range of the vehicle, and trade-in value. Driving range has improved since these cars were initially released and it continues to get better.

Manufacturers are exploring efficiencies that will lower battery replacement cost. Trade-in value is largely dependent on the age of the vehicle because this determines how soon battery replacement will be required.

Hertz Begins Offering Electric Cars

The car rental company Hertz just expanded its vehicle fleet to include electric cars. The Mitsubishi i-MiEV was recently added to the available inventory and members of the company’s car sharing club, Connect by Hertz, will have the first opportunity to rent the car.

Within the near future, Hertz plans to add a supply of this vehicle to its locations throughout the UK.

Hertz has already established 16 electric vehicle charging stations within London. In addition, Hertz installed a charging station at Heathrow airport as a convenience to its air travel customers. Two cars can simultaneously recharge at each station.

Hertz customers will also be able to use the Source London charging stations that should soon be appearing in the city.

Mitsubishi created the i-MiEV with city driving in mind. The vehicle is based on the Mitsubishi i car and meets the Japanese government strict K-car standards. Within its very compact shell, there is ample interior space for four adult passengers.

This is the perfect car for tourists and business travelers who need to get around the crowded London streets.

Hertz is no stranger to eco-friendly vehicles. It is considered a pioneer within the green car sector. It already offers a wide assortment of gasoline-powered vehicles that feature low CO2 emissions. Outside of England, the rental agency’s electric vehicle program will be included in the Hertz Global Electric Vehicle Program (GEVP) program. Rental customers will soon be zipping around in i-MiEVs throughout the UK.

For those considering buying an i-MiEV, renting one first to try it out is a smart move. Whether they are paying cash or getting car loans, vehicle purchases are substantial financial investments for customers. Renting an electric car is a low-cost, no-obligation way for potential car buyers to see whether they like this type of vehicle.